Poplar Forest Capital LLC boosted its stake in shares of Ally Financial Inc (NYSE:ALLY) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,849,167 shares of the financial services provider’s stock after buying an additional 75,268 shares during the quarter. Ally Financial accounts for approximately 3.7% of Poplar Forest Capital LLC’s portfolio, making the stock its 14th largest holding. Poplar Forest Capital LLC’s holdings in Ally Financial were worth $48,910,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Ally Financial by 8.8% in the second quarter. BlackRock Inc. now owns 26,537,339 shares of the financial services provider’s stock valued at $697,136,000 after purchasing an additional 2,148,484 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Ally Financial by 8.4% during the second quarter. Canada Pension Plan Investment Board now owns 9,020,275 shares of the financial services provider’s stock valued at $236,963,000 after buying an additional 700,000 shares during the period. LSV Asset Management lifted its stake in shares of Ally Financial by 32.6% during the second quarter. LSV Asset Management now owns 4,152,079 shares of the financial services provider’s stock valued at $109,075,000 after buying an additional 1,021,238 shares during the period. Canyon Capital Advisors LLC lifted its stake in shares of Ally Financial by 0.4% during the second quarter. Canyon Capital Advisors LLC now owns 3,867,124 shares of the financial services provider’s stock valued at $101,589,000 after buying an additional 14,900 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Ally Financial by 1.9% during the second quarter. Northern Trust Corp now owns 3,578,476 shares of the financial services provider’s stock valued at $94,008,000 after buying an additional 66,832 shares during the period. Institutional investors own 98.73% of the company’s stock.
Several equities analysts recently issued reports on ALLY shares. Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, July 17th. TheStreet raised shares of Ally Financial from a “c+” rating to a “b-” rating in a research note on Thursday, July 19th. Stephens reissued a “hold” rating and set a $32.00 price objective on shares of Ally Financial in a research note on Friday, July 27th. Bank of America raised shares of Ally Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $35.00 in a research note on Monday, July 30th. Finally, Oppenheimer set a $35.00 price objective on shares of Ally Financial and gave the company a “buy” rating in a research note on Thursday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.72.
NYSE:ALLY traded up $0.18 during trading hours on Wednesday, reaching $26.09. 377,188 shares of the company were exchanged, compared to its average volume of 3,871,492. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.48. The company has a market cap of $10.65 billion, a P/E ratio of 10.92, a P/E/G ratio of 0.61 and a beta of 1.23. Ally Financial Inc has a 52-week low of $23.69 and a 52-week high of $31.29.
Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.11. Ally Financial had a net margin of 16.87% and a return on equity of 10.25%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. Research analysts forecast that Ally Financial Inc will post 3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, October 31st. Ally Financial’s payout ratio is currently 25.10%.
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Ally Financial Company Profile
Ally Financial Inc provides various financial products and services for consumers, businesses, automotive dealers, and corporate clients in the United States and Canada. The company operates Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
Further Reading: When is a capital gain realized?
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